News Corp board expected to approve split

(Reuters) - Rupert Murdoch will oversee one of the most important board meetings of his more than 40-year career on Wednesday afternoon as News Corp directors vote on whether to divide the $60 billion media conglomerate into two separate publicly traded companies. Most of the board members will meet at News Corp's Sixth Avenue headquarters in Midtown Manhattan, but several will have to phone in to the hastily arranged meeting. ...

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(Reuters) - Rupert Murdoch will oversee one of the most important board meetings of his more than 40-year career on Wednesday afternoon as News Corp directors vote on whether to divide the $60 billion media conglomerate into two separate publicly traded companies.

Rupert Murdoch will oversee one of the most important board meetings of his more than 40-year career on Wednesday afternoon as News Corp directors vote on whether to divide the $60 billion media conglomerate ...

(Reuters) - News Corp said on Thursday its board approved a plan to split the company into two publicly traded entities, with Rupert Murdoch remaining as chief executive of a new, separate entertainment company.

News Corporation is making efforts to receive as high as possible payout from the $139 settlement of the litigation, which alleged that executives have damaged investors by giving to its chair Rupert Murdoch the right to use the company as “his personal fiefdom”, reported Financial Times.

Two huge California pension funds said Monday they would vote against the reelection of Rupert Murdoch to the board of his media conglomerate News Corp. this week.The pension funds added their voices to a growing clamor among News Corp. shareholders for the ouster of Murdoch and his sons James and Lachlan from the board after a phone hacking scandal in Britain.

Institutional Shareholders Services says the chairman and 12 others, including his two sons, should be removed in light of the phone hacking scandal that continues to rock the media giant. It called the debacle a 'failure of board stewardship.'An influential consulting firm is advising that shareholders vote News Corp.